Source : Webster's Revised Unabridged Dictionary (1913)

Laissez faire \Lais`sez" faire"\ [F., let alone.]
   Noninterference; -- an axiom of some political economists,
   deprecating interference of government by attempts to foster
   or regulate commerce, manufactures, etc., by bounty or by
   restriction; as, the doctrine of laissez faire; the laissez
   faire system government.

Source : WordNet®

laissez faire
     n : the doctrine that government should not interfere in
         commercial affairs [syn: {individualism}]